Are our electricity tariffs one of the highest in the world?
I refer to the article “Electricity tariffs up by 6.3% in next three months” (Straits Times, Dec 30).
It states that “Households will pay more for electricity in the new year, with tariffs rising by an average of 6.3 per cent.”
According to Singapore Power’s annual report 2016/2017 – its profit for the year ended 31 March 2017 was $948.8 million, an increase of 2.7 per cent over the previous year’s $923.5 million.
Singapore PowerAssets’ profit was $433.6 million.
What about the profits of the power generating companies – some of which have been sold to foreign companies?
So, in totality – how much profits are being made from providing electricity to the people?
Leong Sze Hian